Can You Be Out Of Your House in 35 Days?


Can You Be Out Of Your House in 35 Days?
By Scott Rogers • September 21, 2018
When will a buyer kick you out of your house? Probably in 35 to 90 days if you're in a popular-ish location and price range, and depending on the time of year. Here's where I get those figures... On average, buyers propose to close about 45 days after a contract is in place. This gives them time to work through the home inspection, appraisal and financing contingencies. If your house goes under contract within the first five days on the market, and then the buyer proposes a slightly-faster-than-normal (30 day) closing, you might need to be out of the house 35 days after you list it for sale. If it takes a month to secure a buyer for your house, and they propose a slightly-slower-than-normal (60 day) closing, you would need to be out of your house 90 days after you listed it for sale. So -- be prepared to be asked to move out 35 to 90 days after you list your property for sale. Again, this is if we can secure a buyer within 30 days. If your home is not in as popular-ish of a location or price range, or if you are being overly aggressive on price (listing a good bit higher than market value) then these norms are likely to go out the window. If you can't be out of your house for 120 days (based on the timing of a move, etc.) then you might seriously consider whether to wait a bit to list your home. What we don't want to happen is to list your home with the caveat being announced to all prospective buyers that the closing must be 120+ days into the future. Why, you might ask? Doesn't this give buyers plenty of times to plan, etc.? Yes, sort of, kind of. The main problem with this strategy (list 120+ days before you are ready to be out of your house) is that most of the buyers who are in the market to contract on a property today want to be in their home within 45 - 60 days, so we'd potentially be turning away many or most buyers who are currently in the market to buy. And then, if we have to wait 30 to 45 days for buyers who are ready to close on your delayed time frame, by that point, those buyers are wondering why your house has been on the market for 30 to 45 days without a buyer having decided to buy the home. That whole reverse peer pressure thing. So -- if you are not super flexible on the timing of being out of your house -- work the timing backwards, considering not putting the house on the market until you're in that 35-90 day window. Receive Updates by Email Recent Articles: There Are Plenty Of Types Of Houses That Exist That Just Are Not Available To Purchase Home Sales By Price Range In The City Of Harrisonburg Are You Compromising On Aspects Of Your Next Home That You Can Or Cannot Change Later? How Much Slower Are The Winter Months In Our Local Housing Market? Rockingham County and New Home Sales Drive Surge in Area Housing Market Find The Balance Between Optimistic And Realistic Home Pricing Room Size Is Difficult To Understand Solely From Real Estate Photos How Much Would You Value Not Having To Prepare Your Home For Showings? One Out Of Four Homes Is Taking Longer Than A Month To Sell Consider The Cost Of Your Planned Renovations When Planning Your Offer
Have any questions? Contact Scott Rogers at 540-578-0102 or scott@funkhousergroup.com
Based on information from the Harrisonburg-Rockingham Association of REALTORS® or its MLS, for the period Jan 1, 2000 through Nov 21, 2024 (unless otherwise noted).
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